Don’t lose track of your hard-earned cash

It is shocking how much money is sitting unclaimed in 'forgotten' accounts

It is shocking how much money is sitting unclaimed in 'forgotten' accounts

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The idea of losing track of your savings and investments may sound unlikely, and yet there are currently billions of pounds in “forgotten” accounts.

In fact, figures suggest a huge £15 billion is sitting unclaimed in dormant bank accounts, lost pensions and old life insurance policies.

In some cases, people lose track of accounts when they move house and fail to notify the bank or provider of their new address; in others, individuals simply forget about money they have squirreled away.

The good news is, even if you lost a pension, investment fund or bank account years ago, that money still belongs to you – so it’s well worth spending a little time trying to track it down.

The opinions expressed are those of the author and are not held by Saga unless specifically stated.

The material is for general information only and does not constitute investment, tax, legal, medical or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Always obtain independent, professional advice for your own particular situation.